Pacific Sun Financial Corp Cuts Stock Position in Amazon.com, Inc. (NASDAQ:AMZN)

Pacific Sun Financial Corp lowered its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 1.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,677 shares of the e-commerce giant’s stock after selling 161 shares during the period. Amazon.com comprises 1.0% of Pacific Sun Financial Corp’s holdings, making the stock its 24th largest position. Pacific Sun Financial Corp’s holdings in Amazon.com were worth $1,677,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Cooksen Wealth LLC bought a new stake in shares of Amazon.com in the fourth quarter valued at $30,000. Clarity Asset Management Inc. bought a new stake in shares of Amazon.com in the fourth quarter valued at $46,000. Steph & Co. bought a new stake in shares of Amazon.com in the first quarter valued at $65,000. Koesten Hirschmann & Crabtree INC. bought a new stake in shares of Amazon.com in the first quarter valued at $69,000. Finally, Advantage Trust Co bought a new stake in shares of Amazon.com in the fourth quarter valued at $68,000. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Insider Buying and Selling at Amazon.com

In other Amazon.com news, CEO Andrew R. Jassy sold 20,784 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $180.77, for a total transaction of $3,757,123.68. Following the completion of the transaction, the chief executive officer now owns 2,056,534 shares of the company’s stock, valued at approximately $371,759,651.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Amazon.com news, CEO Andrew R. Jassy sold 20,784 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $180.77, for a total transaction of $3,757,123.68. Following the completion of the transaction, the chief executive officer now owns 2,056,534 shares of the company’s stock, valued at approximately $371,759,651.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jeffrey P. Bezos sold 1,228,993 shares of the company’s stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $200.36, for a total value of $246,241,037.48. Following the transaction, the insider now directly owns 930,696,284 shares of the company’s stock, valued at approximately $186,474,307,462.24. The disclosure for this sale can be found here. Insiders sold 6,104,317 shares of company stock valued at $1,220,621,322 in the last 90 days. Insiders own 10.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on AMZN. Needham & Company LLC boosted their target price on Amazon.com from $205.00 to $210.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. Itau BBA Securities lowered Amazon.com from an “outperform” rating to a “market perform” rating and set a $186.00 target price on the stock. in a research note on Friday, August 2nd. Roth Mkm boosted their price objective on Amazon.com from $210.00 to $215.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Barclays boosted their price objective on Amazon.com from $220.00 to $235.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Finally, Bank of America decreased their price objective on Amazon.com from $220.00 to $210.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. One equities research analyst has rated the stock with a hold rating, forty have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $222.49.

Amazon.com Trading Down 3.7 %

Shares of AMZN stock opened at $171.39 on Friday. The stock has a market capitalization of $1.78 trillion, a PE ratio of 48.01, a P/E/G ratio of 1.34 and a beta of 1.14. Amazon.com, Inc. has a 1-year low of $118.35 and a 1-year high of $201.20. The business has a 50-day moving average of $181.10 and a 200 day moving average of $181.19. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.10 and a quick ratio of 0.88.

Amazon.com (NASDAQ:AMZN) last issued its earnings results on Thursday, August 1st. The e-commerce giant reported $1.23 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.18. The company had revenue of $147.98 billion during the quarter, compared to analysts’ expectations of $148.63 billion. Amazon.com had a return on equity of 21.39% and a net margin of 7.35%. As a group, sell-side analysts anticipate that Amazon.com, Inc. will post 4.86 earnings per share for the current year.

Amazon.com Company Profile

Amazon.com, Inc engages in the retail sale of consumer products, advertising, and subscriptions service through online and physical stores in North America and internationally. The company operates through three segments: North America, International, and Amazon Web Services (AWS). It also manufactures and sells electronic devices, including Kindle, Fire tablets, Fire TVs, Echo, Ring, Blink, and eero; and develops and produces media content.